|
Restricted cash
Restricted cash comprises short-term deposits that are not highly liquid and are accounted for as loans and receivables in accordance with the accounting policy disclosed in note 7.1.
| |
2017
Rm |
|
2016
Rm |
|
| Restricted cash deposits |
2 376 |
|
1 020 |
|
Restricted cash deposits include amounts of R182 million (2016: R55 million) and R1 427 million
(2016: R757 million) relating to the Syrian and Nigerian operations respectively, which are not
available for use by the group.
In respect of Syria, this was due to exchange control regulations and deposits required to
secure letters of credit. The restricted cash balance is considered to represent excess cash
not required for payment of Syrian pound denominated liabilities.
Other restricted cash deposits (mainly relating to MTN Nigeria) consist of funds placed on
deposit to secure letters of credit, which were undrawn and not freely available at the reporting
date. Restricted cash balances in MTN Nigeria also consisted of R17 million at 31 December 2017
(2016: R392 million), retained in an escrow account, relating to the acquisition of Visafone
Communications Limited in 2015. |
